School Board Financial Report. Month Ended November 30, 2012

Transcription

1 Jerry L. Kjergaard, Ed. D., Superintendent Pamela J. Harrington, Director of Business & Finance Elizabeth Fischer, Director of Human Resources Independent School District SW 5 th St., Willmar, MN Phone: Fax: School Board Financial Report Month Ended November 30, 2012 January 4, 2013 General Comments Please contact Pam Harrington ( or harringtonp@willmar.k12.mn.us) or Mary Harris ( or harrism@willmar.k12.mn.us) with any questions. YTD Revenues & Expenditures Summary (General Fund) Local revenues are $73,862 lower than in FY 12 due to a VEBA grant received from SW/WC Cooperative in FY 12 offset by new ipad fees implemented in FY 13 and the timing of the collection of spring sport fees. State revenues are $721,924 higher than in FY 12. General education aid is higher due to higher estimated Adjusted Marginal Cost Pupil Units than in FY 12 and an additional $50 added to the basic formula. Non-public pupil transportation aid was also received earlier in FY 13. Special education aid received also contributes to the increase. Federal revenues are $67,320 higher than in FY 12 due to the timing of federal revenue received from MDE. Other revenues are up $36,556 from FY 12 due to the Middle School fundraiser revenue being collected but the invoice for products not being paid at this time and the sale of the Lincoln building. Salaries are up $456,887 due to contract settlements, staffing adjustments and School Improvement Grant (SIG) staff. Benefits are up $109,869 due to employee benefit choices and staffing. Purchased Services are down $193,197 from FY 12. In FY 13, the first 1:1 ipad lease payment was made in July, staff attended a 90/90/90 conference in the summer, SH tennis courts were repaired and there is a timing difference of payments to WCIC. The increase is offset by capital projects being lower in FY 12 than in FY 13 because fewer projects were planned. Insurance premiums are also being paid in installments in FY 13. Supplies and Materials are down $121,752 due to the timing of curriculum cycle, standardized test purchases, higher fuel prices and custodial supply purchases.

2 Capital expenditures are $184,451 higher than in FY 12 due to purchase of technology capital items, such as, ipads, computers and monitors for labs. Capital projects are also occurring and District replaced a maintenance vehicle. Other expenditures are down $40,844 from FY 12 due to special assessments based on projects done by the City typically on roads surrounding the buildings. Two years of assessments for the Roosevelt road were paid in FY 12. The decrease is partially offset by the timing of property tax abatement payments. The debt service category contains the premium from the aid anticipation certificates issued in FY 12 and the cost of interest paid in FY 13 when the certificates were repaid. Please see specific revenue and expenditure comments included in the attached reports. Investment Summary The District has a money market account with a starting balance of $245,000 and an interest rate of 0.95% for November which was the same rate in October. Cash and Banking Summary The accounts are reconciled and balanced each month. The number of days cash on hand is greater than the target of 20 days of expenditures. Interest rates are extremely low which makes investing unfavorable. The higher cash balance earns credit which offsets bank fees. MDE announced the partial restoration of the aid payment shift. The shift was at 64.3% but will be moving to 82.5% in December. The District does not expect to issue Aid Anticipation Certificates during the fiscal year. Cash will be closely monitored throughout the year and days of cash on hand may occasionally dip below the 20 day target. Finance Dashboard November 30, 2012 Actual Target * Days of Cash on Hand (Fund 01, 02, 04) days 20 days * Days after month end for financial reporting 35 days 21 days * FY 13 Original Budget General Fund fund balance 13.38% 6% $133, cash per day Enrollment Report The enrollment at the end of November was 4,189 students which is up 10 students from the end of October. Enrollment is up 124 students from last November and 189 students from the end of last year. District website: Finance section of District website: go to the above, click on District, Finance, and Monthly Reports.

3 r_br_reconwrk Willmar Public Schools Page 1 of 1 Reconciliation Worksheet 11/30/2012 1/2/ :22:29 text Audit No Statement Date Co Bank Code Bank Name/Description /30/ st BREMER BANK, N.A. finance checking account Statement Amount 7,335, Worksheet has been Finalized Deposits in Transit 3, Outstanding Payments Checks 343, Wires 0.00 SHR - Payments 6, SHR - Third Party 0.00 Cash 0.00 ACH 0.00 Adjustment Amount (40,585.70) Amount Per Bank 6,947, GL Account Balance 6,947, Co 0347 L B Fd Org Pro Crs Fin O/S Ty 000 F Difference 0.00 Adjustments Manual 11/30/2012 Manual Wire , , (45,376.44) MN 11/30/12 tax payment

4 Bremer Checking & Sweep Account Summary November 30, 2012 Beginning Investments/ Ending Funds # Balance Receipts Disbursements Transfers Balance General Fund 01 6,655, ,027, ,463, (17,922.91) 4,201, Food Service Fund 02 32, , , , , Community Service Fund , , , (704.83) 268, Debt Service Fund 07 2,082, , ,339, Scholarship Fund 08 1, , Internal Service Fund (Delta Dental) 20 43, , , , , Totals $9,137, $1,730, $3,920, $0.00 $6,947, Bremer Checking & Sweep Account FY xlsx Nov Smry

5 Bremer Checking & Sweep Account Detail November 30, 2012 General Fund Food Service Community Ed Debt Service Scholarship Internal Service Total Fund 01 Fund 02 Fund 04 Fund 07 Fund 08 Fund 20 All Funds Ending Cash Balance at 10/31/12 6,655, , , ,082, , , ,137, Revenues November Revenue 1,027, , , , , ,730, November Interest Received - Total Revenue 1,027, , , , , ,730, Expenditures Accounts Payable 1,257, , , ,440, November 15, Payroll 933, , , ,072, November 30, Payroll 1,245, , , ,366, Loan Payments - Flex Employee Reimbursements 26, , VEBA Contributions - OctoberDelta Dental Payment Paid in November - November Delta Dental Payment Paid in November 14, , ACH & Bank Charges, Misc. - Total Expenditures 3,463, , , , ,920, Transfers & Investments Transfers Between Funds (524.91) 1, (704.83) - Transfer Emp Dental Withholding To Fund 20 (17,398.00) 17, Total Transfers & Investments (17,922.91) 1, (704.83) , Ending Cash Balance at 11/30/12 4,201, , , ,339, , , ,947, Bremer Checking & Sweep Account FY xlsx Tab

6 Cash Flow Projection Beginning Receipts Disbursements Ending Balance Revenue Expenditures Investments Balance FY July 2011 (Actual) 4,166,846 2,159,082 3,633,703-2,692,225 August 2011 (Actual) 2,692,225 10,198,543 3,637,759-9,253,010 September 2011 (Actual) 9,253,010 6,345,173 4,483,456-11,114,727 October 2011 (Actual) 11,114,727 6,112,141 3,606,777-13,620,092 November 2011 (Actual) 13,620,092 1,156,112 4,372,315-10,403,890 December 2011 (Actual) 10,403,890 3,139,242 4,142,954-9,400,178 January 2012 (Actual) 9,400,178 3,121,985 6,255,031-6,267,132 February 2012 (Actual) 6,267,132 3,168,964 3,878,922-5,557,173 March 2012 (Actual) 5,557,173 4,605,070 3,694,661-6,467,582 April 2012 (Actual) 6,467,582 3,378,128 3,748,046 5,000 6,102,664 May 2012 (Actual) 6,102,664 6,007,550 4,284,793-7,825,422 June 2012 (Actual) 7,825,422 1,961,016 4,841,191-4,945,247 FY July 2012 (Actual) 4,945,247 2,796,835 3,977,175-3,764,907 August 2012 (Actual) 3,764,907 7,968,054 3,718,135-8,014,826 September 2012 (Actual) 8,014,826 7,165,456 7,329,765-7,850,517 October 2012 (Actual) 7,850,517 5,943,781 4,656,767-9,137,532 November 2012 (Actual) 9,137,532 1,730,591 3,920,176-6,947,946 December ,947,946 7,081,176 4,582,760-9,446,362 January ,446,362 3,806,873 6,480,350-6,772,885 February ,772,885 3,483,160 4,001,000-6,255,045 March ,255,045 4,255,285 3,820,000-6,690,330 April ,690,330 4,531,897 4,000,000-7,222,227 May ,222,227 5,191,318 4,150,000-8,263,545 June ,263,545 1,854,165 4,850,000-5,267,710 Cash Flow Projection xlsx Summary

7 General Fund Revenues Budget vs Actual YTD November FY 2013 & 2012 Original Budget Actual YTD Actual Audit Actual YTD YTD REVENUES FY FY % FY FY % Difference Local Revenues $ 5,101,511 $ 497, % $ 5,328,592 $ 571, % $ (73,862) State Revenues 35,418,432 7,661, % 34,558,584 6,939, % 721,924 Federal Revenues 1,768,020 71, % 2,252,465 3, % 67,320 Other Revenues 30,200 55, % 86,095 19, % 36,556 Total Revenues $ 42,318,163 $ 8,286, % $ 42,225,736 $ 7,534, % $ 751,938 November YTD Revenues & Expenditures FY budget.xlsx Rev Summary

8 General Fund Revenues Budget vs Actual YTD November FY 2013 & 2012 Original Budget Actual Budget/Actual YTD Actual Audit Actual YTD YTD Description FY FY Difference % FY FY % Difference Comments LOCAL REVENUES Property Tax Levy $ 4,165, (4,165,745.05) 0.00% $ 3,938, % $ - County Apportionment 69, (69,334.49) 0.00% 71, % 0.00 Miscellaneous County Tax Rev 2, (2,836.90) 0.00% 5, % 0.00 Property Tax Shift Recognition Rev % 99, % 0.00 Tuition From MN School Districts 20, (19,575.55) 2.12% 21, % Tuition from Patrons 5, (12.00) (5,662.00) -0.21% 3, , % (3,369.80) Fees From Patrons 302, , (90,151.75) 70.22% 303, , % 48, ipad fees in FY 13 and timing of collection of spring sport fees. Admission & Student Activity Rev 121, , (62,310.83) 48.92% 125, , % Med Assistance From Dept of HS 100, , (92,786.85) 7.21% 152, , % 1, Interest Earnings 1, (630.53) 60.89% 1, , % (163.06) Rent 35, , (19,924.63) 44.34% 35, , % 2, Tournaments 11, , (8,371.21) 26.93% 19, , % (221.21) Gifts & Bequests 111, , , % 396, , % (128,338.46) Donation from SW/WC for VEBA grant in FY 12. Miscellaneous Local Revenue 152, , (83,744.20) 45.17% 151, , % 5, Total Local Revenues $ 5,101, $ 497, (4,604,224.90) 9.75% $ 5,328, $ 571, % $ (73,862.08) STATE REVENUES Endowment Fund Apportionment $ 110, $ 58, (52,040.43) 52.98% $ 121, $ 61, % $ (2,896.10) General Education Aid 30,700, ,425, (24,274,753.89) 20.93% 29,904, ,152, % 273, Shared Time Aid 11, (11,529.00) 0.00% 16, % 0.00 Abatement Aid % % Disparity Reduction Aid % % 0.00 Homestead Market Value Credit % 99, % 0.00 Other State Credits % % 0.00 State Aid Adjustments For Prop Tax % (99,819.86) % 0.00 State Aids From DOE 543, , (391,483.90) 27.91% 519, , % 22, Adjusted Marginal Cost Pupil Units (AMCPU) are estimated higher than in FY 12 and the formula allowance was increased $50 per AMCPU. Non-public pupil transportation aid received early in FY 13. Special Education Aid 4,041, ,025, (3,016,574.82) 25.37% 3,984, , % 428, Timing of special education state aid from MDE. Other State Agency Revenue 2, (2,000.00) 0.00% 3, % 0.00 Other Aid From MDE 9, (9,200.00) 0.00% 8, % 0.00 Total State Revenues $ 35,418, $ 7,661, (27,756,642.72) 21.63% $ 34,558, $ 6,939, % $ 721, FEDERAL REVENUES Federal Aids & Grant $ 1,355, $ 3, (1,351,899.68) 0.29% $ 1,620, , % $ - Federal Aid Received Pass-Thru 412, , (344,862.26) 16.33% 632, % 67, Total Federal Revenues $ 1,768, $ 71, (1,696,761.94) 4.03% $ 2,252, $ 3, % $ 67, OTHER REVENUES Cost of Material Revenue Activities $ (16,500.00) $ (303.90) 16, % $ (17,620.35) $ (16,892.90) 95.87% 16, Timing of reimbursement of federal revenue through MDE. MS fundraiser is later in FY 13 than in FY 12. Fundraising revenue has been collected but product has not been paid for yet. Sales Of Material Revenue Activities 23, , , % 24, , % 7, Fundraiser more successful in FY 13. Sales Of Materials For Resale 23, , (18,081.55) 23.71% 30, , % (3,927.06) Sale Of Real Property , , % % 18, Sale of Lincoln building. Sale Of Equipment , , % % 1, Insurance Recovery % 8, , % (2,381.73) Microsoft/Other Settlement Revenue % 39, % 0.00 Health & Safety Other Revenue % % (690.00) Total Other Revenues $ 30, $ 55, $ 25, % $ 86, $ 19, % $ 36, TOTAL REVENUES $ 42,318, $ 8,286, (34,032,119.30) 19.58% $ 42,225, $ 7,534, % $ 751, November YTD Revenues & Expenditures FY budget.xlsx Rev Detail 1/7/2013

9 General Fund Expenditures Budget vs Actual YTD November FY 2013 & 2012 Original Budget Actual YTD Actual Audit Actual YTD YTD EXPENDITURES FY FY % FY FY % Difference Salaries & Wages $ 25,289,494 $ 6,873, % $ 23,647,145 $ 6,416, % $ 456,887 Employee Benefits 8,233,025 2,865, % 7,824,972 2,755, % 109,869 Purchased Services 7,626,036 3,113, % 7,907,368 3,306, % (193,197) Supplies & Materials 2,016, , % 1,649, , % (121,752) Capital Expenditures 687, , % 948, , % 184,451 Other Expenditures 199, , % 269, , % (40,844) Debt Service 14,638 13, % 8,076 (47,502) % 60,691 Total Expenditures $ 44,066,167 $ 13,989, % $ 42,255,530 $ 13,533, % $ 456,104 November YTD Revenues & Expenditures FY budget.xlsx Exp Summary

10 General Fund Expenditures Budget vs Actual YTD November FY 2013 & 2012 Original Budget Actual YTD Actual Audit Actual YTD YTD Description FY FY % FY FY % Difference Comments SALARIES AND WAGES Administration $ 1,050, $ 348, % $ 1,002, $ 325, % $ 23, District Support Services 568, , % 560, , % 35, Regular Instruction 14,492, ,588, % 13,097, ,323, % 265, Vocational Instruction 591, , % 548, , % (2,871.05) Special Education Instruction 5,108, ,350, % 5,129, ,263, % 87, Instructional Support 1,502, , % 1,357, , % 23, Pupil Support 778, , % 734, , % (4,968.82) Sites And Buildings 1,197, , % 1,216, , % 30, Total Salaries And Wages $ 25,289, $ 6,873, % $ 23,647, $ 6,416, % $ 456, EMPLOYEE BENEFITS Administration $ 445, $ 158, % $ 393, $ 144, % $ 14, District Support Services 303, , % 293, , % (52,323.96) Regular Instruction 4,183, ,440, % 3,925, ,331, % 109, Vocational Instruction 179, , % 173, , % (3,015.71) Special Education Instruction 1,971, , % 1,976, , % 14, Instructional Support 528, , % 470, , % 25, Pupil Support 231, , % 205, , % (4,671.85) Sites And Buildings 389, , % 385, , % 6, Salary and wage increases due to contract settlements. Staffing adjustments and SIG. Total Employee Benefits $ 8,233, $ 2,865, % $ 7,824, $ 2,755, % $ 109, Benefit choices of employees and staffing adjustments. PURCHASED SERVICES Administration $ 48, $ 12, % $ 38, $ 11, % $ District Support Services 305, , % 254, , % (1,685.24) Regular Instruction 1,468, , % 1,306, , % 188, In FY 13, first 1:1 ipad lease payment, repair of SH tennis courts and timing of funding to WCIC. Vocational Instruction 12, , % 8, , % (4,074.27) Special Education Instruction 393, , % 377, , % 37, Increased special education services based on student needs (OT/PT) from the SW/WC Coop. Instructional Support 182, , % 147, , % 8, /90/90 conference attended by staff in the summer. Increased cost of regular and special education Pupil Support 2,606, , % 2,543, , % 62, transportation. More capital projects were planned and completed in Sites And Buildings 2,468, ,201, % 3,106, ,669, % (468,042.62) FY 12 than in FY 13. Other Fixed Costs 140, , % 125, , % Paid insurance premium in full in FY 12. In FY 13, (16,615.30) paying premium in installments. Total Purchased Services $ 7,626, $ 3,113, % $ 7,907, $ 3,306, % $ (193,197.38) SUPPLIES AND MATERIALS Administration $ 3, $ 1, % $ 3, $ % $ District Support Services 11, , % 8, , % Regular Instruction 1,215, , % 950, , % (119,454.35) Curriculum purchases in FY 12. Vocational Instruction 38, , % 29, , % 1, Special Education Instruction 117, , % 69, , % (7,035.63) Instructional Support 189, , % 140, , % (22,385.71) Cost of standardized tests in FY 12. Cost related to fuel clause higher in FY 13 as fuel cost Pupil Support 81, , % 79, , % 10, is higher. Timing of DARE expenditures. Sites And Buildings 358, , % 367, , % 14, Timing of purchases of custodial supplies. Fiscal And Fixed Costs % % - Total Supplies And Materials $ 2,016, $ 567, % $ 1,649, $ 688, % $ (121,751.92) November YTD Revenues & Expenditures FY budget.xlsx Exp Detail

11 General Fund Expenditures Budget vs Actual YTD November FY 2013 & 2012 Original Budget Actual YTD Actual Audit Actual YTD YTD Description FY FY % FY FY % Difference Comments CAPITAL EXPENDITURES Administration $ 2, $ % $ 6, $ % $ (30.79) District Support Services 7, % % - Regular Instruction 458, , % 476, , % 193, Technology capital projects related to computers and monitors being replaced in the summer. Also, a few ipad purchases. Vocational Instruction 6, % 9, , % (5,374.01) Special Education Instruction 23, , % 25, , % (3,293.14) In FY 13, wireless access points and other technology related projects. In FY 12, a lease payment for ipads was recorded to this line. The lease payment was Instructional Support 121, , % 270, , % (57,115.57) reclassed to purchased services in March, Pupil Support % 1, % - In FY 12, Roosevelt garage. In FY 13, maintenance Sites And Buildings 67, , % 158, , % 56, vehicle purcahse and other capital projects. Fiscal And Fixed Costs % % - Total Capital Expenditures $ 687, $ 420, % $ 948, $ 235, % $ 184, OTHER EXPENDITURES Administration $ 19, $ 15, % $ 15, $ 13, % $ 2, District Support Services 94, , % 92, , % 7, Timing of property tax abatement payments. Regular Instruction 6, , % 17, , % Vocational Instruction 2, % 2, , % (1,305.00) Special Education Instruction 1, , % 1, % Moving technology license/subscription fees from Instructional Support 18, , % 4, , % 30, capital to other expenditures in FY 13 per UFARS. Pupil Support % % - Sites And Buildings 56, , % 135, , % Special assessments are based on projects done by the City typically on roads. Paid two years worth of (81,166.78) assessments for the Roosevelt road in FY 12. Total Other Expenditures $ 199, $ 136, % $ 269, $ 177, % $ (40,844.28) DEBT SERVICE Fiscal And Fixed Costs $ 14, $ 13, % $ 8, $ (47,502.14) % $ 60, Total Debt Service $ 14, $ 13, % $ 8, $ (47,502.14) % $ 60, TOTAL EXPENDITURES $ 44,066, $ 13,989, % $ 42,255, $ 13,533, % $ 456, In FY 12, premium received for Aid Anticipation Certificates. In FY 13, interest paid when Aid Anticipation Certificates were paid off. November YTD Revenues & Expenditures FY budget.xlsx Exp Detail

12 Students Enrolled on: 11/30/12 Enrollment Summary Building/Program K Total ALC Gemini Learning Center Prairie Lakes Lakeview Alternative Program Totals: Kennedy Roosevelt Middle School Sr. High ,181 Traditional Program Totals: ,973 TOTAL ,189 FY 2013 Seat Count Comparison FY 2013 FY 2012 FY 2011